How to Get Your life Insurance License

How to get your life insurance/final expense license

It might feel a little overwhelming but getting your life license is simple and easy.  Every state has different regulations and rules but for the most part the steps are the same.  I would recommend visiting the state insurance website for your state to verify you are doing it correctly.  I am going to use the state of California as an example.

Here are the steps. Continue reading if you need more details.

Step 1: Determine license type (Life Only)
Step 2: Study for exam (cost $75)
Step 3: Schedule exam ($128 for application and $67 for test)
Step 4: Take exam
Step 5: Complete fingerprints and state license application (fingerprints cost $68.95)            
Total cost to get licenses $338.95

Step 1: Determine license type (Life Only) 
You have several options for the type of license you can obtain. To keep it simple, all you need is the ‘Life Only’ license to sell final expense.  In some state you will find an actual ‘final expense’ license but  DO NOT get it.  You will greatly limit yourself in the products you can sell.  Make sure to get the full ‘Life Only’ license.

Step 2: Study for exam
You can’t fake this test because it isn’t common sense information.  Learn it the best you can so you don’t fail and waste your time and money. Every state requires different study criteria.  In our California example, we are required to complete 32 hours (20 hours in life information and 12 hours in ethics) of monitored study.  We have a choice of online or classroom study.  Select the online study so you can complete it at your own pace. There are several venders to choose from but the cheapest that I have found is www.52hours.com.  This is a site used for California test takers and costs $75 for online study and monitoring of your hours.  If you live outside CA you should consider using ExamSimulator.com.

Step 3: Schedule the exam. 
When you feel like you are about a week away from being ready for your exam schedule it.  Go to your state insurance website to find out which testing service they use/require. In California we use the state website to schedule the actual exam with PSI Online Exams, fill out the CA license application, and pay fees. The testing fee is $67 and the California application fee is $128.  Here is the link you can visit to do this all:

http://www.insurance.ca.gov/0200-industry/0200-prod-licensing/0100-applicant-info/800-exam-info/schedule-exam/index.cfm

Step 4: Take the test. 
The test takes 1-3 hours and normally has 150 questions.  Show up on time and be prepared. Most testing centers will not let you take the test if you show up late.

Step 5: Apply for your license. 
When you finish your test you will receive a pass/fail grade. If you pass you will be able to apply for the license.  California requires you to submit fingerprints. You can complete your fingerprints at the testing center for $68.95 or prior to testing at an approved location for $58.30.

Step 6: Hurry up and wait! 
This is an annoying part of the process.  Once you pass the test you have to wait for the state to issue the license.  This takes anywhere from 2-4 weeks depending how busy they are. If 2 or more weeks pass without licensing approval, you should call the state department of insurance and inquire.  There are a million reasons your application could get held up and the state usually won’t contact you if there is a problem.

It’s a good idea to study your sales training while you are waiting for the state to issue your license. Once it is finally issued you can start working immediately to get appointed with your company (ies) and start writing business!  Check out www.FinalExpenseSuperstar.com to learn step-by-step sales methods, tips, and techniques.